Fixed deposits (FD) or term deposits are offered by all banks. Fixed deposits help people park their money with banks for attractive interest rates. Fixed deposits are of varying tenures. The idea is to invest money in FDs, earn a good interest rate until a specific time period and thus, not only create savings but also earn an interest on the same. That is way fixed deposits are popular as a savings instrument among customers. Tax-saving FDs do not allow customers the facility of premature withdrawal while the regular FDs offer a premature withdrawal facility to customers.

The interest rates are subject to change from time to time, said Kotak Mahindra Bank on its website, kotak.com/bank. Interest Rates for Domestic / NRO / NRE fixed deposits effective from March 5, 2018 are given below: